Sales progression tool claims to cut fall-throughs and speed transactions

A new sales progression tool that claims to have been hugely successful over an 18-month pilot is being rolled out across England and Wales with an introductory ‘free offer’ for agents. 

mio, which describes itself as a combined sales progression and communication tool, was tested in Cardiff for 18 months.

It allows users a shared view of the sales chain, listing milestone updates and becoming increasingly populated with data as the transaction progresses towards completion. 

It says this speeds transactions and reduces fall-through rates. During the Cardiff pilot it helped to reduce average fall-through rates to 21 per cent compared to the UK average of 33 per cent whilst speeding up transactions to exchange from 126 days down to 85 days.

Run by tmgroup, mio also has a consumer app where homemovers can see the progress of their sale and the status of the chain, as well as communicate directly with their estate agent. 

mio's launch publicity cites Rachel Jones, senior sales manager with large Welsh agency Peter Alan, who has tested the system since September 2017. She says: “We can easily see where information is missing or milestones need to be updated and pick up the phone immediately to the right person. Overall, mio has helped to tighten our business processes and reduce the time it takes for a sale to go through. It makes sales progression a lot easier for us.”

mio, which already has 400 agency branches on board, has partnered with Reapit and become an approved supplier for the Relocation Area Network.

Joe Pepper, chief executive of mio’s parent company tmgroup, says: “The official launch of our mio sales progression and communication tool for estate agents promises to be a real game-changer in terms of helping us achieve our vision of transforming the property transaction in the UK for the benefit of all.”